Guide To Smart Contracts In Blockchain Training Ppt

Slide 1

This slide illustrates the concept of smart contract in blockchain technology. It explains that they are computer programs that verify, facilitate, and enforce agreements. Smart contracts are executed when all conditions in the contract are met.

Slide 2

This slide showcases the different attributes of smart contract in blockchain technology such as self-enforcement, tamper-proof, and self-verification.

Instructor’s Notes:

The different characteristics of smart contracts are as follows:

Self-Enforcement: 

• Smart contracts are independent and avoid any kind of human intervention
• The smart contract code is logic-based and requires a pre-agreed condition to unlock or access values

Tamper-Proof:

• In a smart contract, once the agreement is made and conditions are fulfilled, the agreement cannot be changed, which reduces the risk of manipulation of data in the network
• Any change in agreement can only be done by adding a new block to the existing chain with the consent of all users in the network

Self-Verification:

• In a smart contract, it is important to do self-verification with both parties in any agreement
• If there is an issue with the terms and conditions, both the parties can complain 
• The parties can also penalize the offending party
• For e.g. in case a vendor delivers a product post the scheduled date, the smart contract can issue a refund automatically

Slide 3

This slide showcases advantages of smart contract in blockchain technology such as autonomy and savings, backup, safety, speed, and accuracy.

Instructor’s Notes:

The advantages of smart contracts in blockchain technology are as follows:

Autonomy and savings:

Backup:

• In a smart contract, original data is available in the event of any data loss
• Thus, when any data need to be shared, all documents are stored in different blocks in the network

Safety:

Speed:

Accuracy:

Slide 4

This slide showcases different use cases in which smart contract contracts help industries. It also explains the work done by the role and the work that smart contracts play in industries such as financial services, life science and health care, technology, media, and telecom, energy and resources, public sector, and cross-industry.